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Millennial Net Closes $15 Million Series B Funding Round
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Millennial
Net recently announced it has closed $15 million in Series
B funding. New investor BCE Capital, the venture arm of
Bell Canada Enterprises, led the round, which also included
participation from all Series A investors: General Catalyst
Partners, Globespan Capital Partners and Kodiak Venture
Partners. The new investment will support expanded sales,
engineering and marketing initiatives.
"The range of applications and markets that benefit from Millennial Net's wireless
sensor networking solutions made the company a particularly
compelling investment opportunity," said Jim Orlando, Managing
Director, BCE Capital. "Millennial Net is poised to become
the de facto leader in this space, through its focus on
providing practical solutions and commitment to delivering
customer value for today's networking and remote-monitoring
challenges."
Orlando will join Millennial Net's board of directors, which currently includes
Ullas Naik, Globespan Capital Partners; Mike O'Neill of Kodiak Venture Partners;
and John Simon of General Catalyst Partners.
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i-Beans Power Agricultural Monitoring Network in Northern California
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benefits of using wireless sensor networks in building and
industrial automation are well known, but the enormous potential
that wireless sensor networks offer to agricultural production
has not been widely explored until recently. Realizing the
tremendous market opportunity presented by agricultural projects,
Millennial Net engineers gladly hiked through 24 acres of
California mud to confirm what they already knew: that the
i-Bean system performs superbly even in extreme environmental
conditions with intense heat, rain storms and wind. Once the
system is in place, it requires little to no human administration
for years at a time. Humidity, temperature, and soil quality
are measured with sensors, and the data is then wirelessly
transmitted to a base station. The result is a sophisticated
comprehensive monitoring system that works to improve both
crop health and yield with minimal upfront cost. |
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Come
See i-Beans® in Action at Sensors Expo 2004 |
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View a live
demo of Millennial Net's award-winning networking software
and tiny, micro-power network elements at Sensors Expo & Conference
2004, set for June 7-10 in Detroit, MI. Co-founder Tod Riedel
will lead the "Self-Organizing Wireless Sensor Networks" session
on June 9th at 8:30 AM. Additionally, Millennial Net will be
exhibiting in booth #509 throughout the conference. Sensors
Expo is the largest sensors-related event in North America,
featuring workshops, seminars, discussion panels and hundreds
of exhibits. For more information on exhibiting or attending
the show, please visit the
Sensors Expo website.
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| The Niagara Summit, an exclusive building
automation systems event sponsored by Tridium and Millennial
Net, attracted over 300 attendees to its inaugural conference
in Tampa last month. Working out of a brand-new customized
trade show booth, the Millennial team demonstrated a working
building automation system using various sensors (temp, humidity,
motion, and differential pressure), all communicating with
Tridium's industrial gateway (JACE) using ModBus over TCP/IP.
Additionally, vice president of sales, Tom Cunneen, served
on the Wireless in Building Automation Applications panel
during the general session of the conference. Conference
attendees expressed enthusiasm for the Millennial Net solution
and the business opportunities it presents for systems integrators
and building automation applications. |
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Net e-newsletter is sent on a quarterly basis. If you
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© 2004,
Millennial Net, Inc. All rights reserved.
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